Walthausen & Co. LLC Buys 33,610 Shares of Commercial Metals Company (CMC)

Walthausen & Co. LLC increased its stake in shares of Commercial Metals Company (NYSE:CMC) by 10.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 346,160 shares of the basic materials company’s stock after purchasing an additional 33,610 shares during the quarter. Walthausen & Co. LLC owned 0.30% of Commercial Metals worth $6,587,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CMC. Capstone Asset Management Co. lifted its holdings in shares of Commercial Metals by 0.5% during the second quarter. Capstone Asset Management Co. now owns 14,112 shares of the basic materials company’s stock worth $274,000 after purchasing an additional 70 shares during the period. Aperio Group LLC lifted its holdings in Commercial Metals by 15.2% in the second quarter. Aperio Group LLC now owns 50,388 shares of the basic materials company’s stock valued at $979,000 after acquiring an additional 6,659 shares during the period. Great West Life Assurance Co. Can lifted its holdings in Commercial Metals by 4.1% in the second quarter. Great West Life Assurance Co. Can now owns 68,879 shares of the basic materials company’s stock valued at $1,337,000 after acquiring an additional 2,713 shares during the period. Texas Permanent School Fund lifted its holdings in Commercial Metals by 1.0% in the second quarter. Texas Permanent School Fund now owns 84,531 shares of the basic materials company’s stock valued at $1,642,000 after acquiring an additional 861 shares during the period. Finally, Sei Investments Co. lifted its holdings in Commercial Metals by 915.5% in the second quarter. Sei Investments Co. now owns 31,653 shares of the basic materials company’s stock valued at $615,000 after acquiring an additional 28,536 shares during the period. 88.62% of the stock is owned by hedge funds and other institutional investors.

CMC has been the subject of a number of recent analyst reports. Bank of America reissued a “neutral” rating and issued a $21.00 target price (up previously from $20.00) on shares of Commercial Metals in a report on Tuesday, September 5th. Zacks Investment Research downgraded Commercial Metals from a “hold” rating to a “strong sell” rating in a report on Monday, September 4th. Macquarie initiated coverage on Commercial Metals in a report on Wednesday, September 6th. They issued an “underperform” rating and a $16.00 target price for the company. Clarkson Capital reissued a “sell” rating and issued a $16.00 target price on shares of Commercial Metals in a report on Tuesday, August 15th. Finally, Citigroup reduced their target price on Commercial Metals from $22.00 to $21.00 and set a “buy” rating for the company in a report on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Commercial Metals has an average rating of “Hold” and an average target price of $21.88.

Commercial Metals Company (NYSE CMC) opened at $20.67 on Wednesday. Commercial Metals Company has a 52-week low of $17.05 and a 52-week high of $23.64. The firm has a market capitalization of $2,414.25, a price-to-earnings ratio of 27.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.82 and a quick ratio of 1.81.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 22nd. Stockholders of record on Wednesday, November 8th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Tuesday, November 7th. Commercial Metals’s dividend payout ratio is currently 120.00%.

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Commercial Metals Company Profile

Commercial Metals Company, together with its subsidiaries, manufactures, recycles and markets steel and metal products, related materials and services through a network. The Company’s Americas Recycling segment processes scrap metals for use as a raw material by manufacturers of new metal products. The Americas Mills segment consists of steel mills, commonly referred to as minimills that produce reinforcing bar (rebar), angles, flats and rounds.

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Institutional Ownership by Quarter for Commercial Metals (NYSE:CMC)

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